MEG Energy Corp

MEG-T

TSE:MEG

9.14
0.49 (5.66%)
MEG Energy is a pure play Canadian oil sands producer engaged in exploration in Northern Alberta. All of its oil reserves are more than 1,000 feet below the surface and so they depend on steam-assisted ...
More at Wikipedia

Analysis and Opinions about MEG-T

Signal
Opinion
Expert
Chart
BUY
BUY
March 11, 2019
All oil stocks have had a nice bounce-back. The risk behind crude is over and upside is coming. He'd buy this and oil stocks.
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MEG Energy Corp (MEG-T)
March 11, 2019
All oil stocks have had a nice bounce-back. The risk behind crude is over and upside is coming. He'd buy this and oil stocks.
Elliott Fishman
Price
$5.140
Owned
Unknown
BUY
BUY
March 8, 2019
MEG was down on release of Q4 results. It gives exposure to heavy oil in Alberta. They can keep production cap and generate $527M in free cashflow based on $60 oil next year. If they chose to buyback stock, they could purchase 36% of their shares outstanding in 1 year. They are focusing on delevering the company. They can service their current debt and thinks they may be better off to buyback shares. Extremely undervalued.
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MEG was down on release of Q4 results. It gives exposure to heavy oil in Alberta. They can keep production cap and generate $527M in free cashflow based on $60 oil next year. If they chose to buyback stock, they could purchase 36% of their shares outstanding in 1 year. They are focusing on delevering the company. They can service their current debt and thinks they may be better off to buyback shares. Extremely undervalued.
Eric Nuttall
Price
$5.070
Owned
Yes
TOP PICK
TOP PICK
March 8, 2019
The street is not appreciating how much cash flow this company is generating. The balance sheet at $55 oil or higher is absolutely not an issue. Yield = 0.0% (Analysts’ price target is $7.78)
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The street is not appreciating how much cash flow this company is generating. The balance sheet at $55 oil or higher is absolutely not an issue. Yield = 0.0% (Analysts’ price target is $7.78)
Eric Nuttall
Price
$5.070
Owned
Yes
COMMENT
COMMENT
January 25, 2019
What happened with Husky? He has to be vague. HSE-T stepping away from its tender of MEG-T was not about Alberta curtailment risk. It was not about the lack of pipeline progress. Rumours suggest 60% of the shares were tendered. So it makes him think it was something too sensitive to be officially released. Perhaps there could have been an outside entity or government that would not allow Husky to purchase MEG. That is as far has he is going. MEG has been a huge winner for the production curtailment as the WCS differentials have tightened.
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MEG Energy Corp (MEG-T)
January 25, 2019
What happened with Husky? He has to be vague. HSE-T stepping away from its tender of MEG-T was not about Alberta curtailment risk. It was not about the lack of pipeline progress. Rumours suggest 60% of the shares were tendered. So it makes him think it was something too sensitive to be officially released. Perhaps there could have been an outside entity or government that would not allow Husky to purchase MEG. That is as far has he is going. MEG has been a huge winner for the production curtailment as the WCS differentials have tightened.
Eric Nuttall
Price
$5.530
Owned
_N/A
TOP PICK
TOP PICK
January 25, 2019
The highest leverage to both rising oil prices and tighter WCS differentials. He thinks WCS will trade to $17-$20 for the next few years. For every $1 change in oil prices, he thinks their share price will improve by $1. Husky walking away was a great opportunity to buy at a great value. Yield 0%. (Analysts’ price target is $8.23)
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MEG Energy Corp (MEG-T)
January 25, 2019
The highest leverage to both rising oil prices and tighter WCS differentials. He thinks WCS will trade to $17-$20 for the next few years. For every $1 change in oil prices, he thinks their share price will improve by $1. Husky walking away was a great opportunity to buy at a great value. Yield 0%. (Analysts’ price target is $8.23)
Eric Nuttall
Price
$5.530
Owned
Yes
WATCH
WATCH
January 17, 2019
It dropped because Husky dropped their bid for the company. Can MEG make it on its own or are there other potential buyers – he would not hold his breath. It will continue to de-lever and become more attractive in the marketplace. Another potential bidder may not have to be in a hurry to buy it.
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MEG Energy Corp (MEG-T)
January 17, 2019
It dropped because Husky dropped their bid for the company. Can MEG make it on its own or are there other potential buyers – he would not hold his breath. It will continue to de-lever and become more attractive in the marketplace. Another potential bidder may not have to be in a hurry to buy it.
COMMENT
COMMENT
January 14, 2019
Taking a counter-cyclical view, Husky is investing upstream. His best guess is that the Husky closes. It's unlikely there'll be a white knight for MEG.
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MEG Energy Corp (MEG-T)
January 14, 2019
Taking a counter-cyclical view, Husky is investing upstream. His best guess is that the Husky closes. It's unlikely there'll be a white knight for MEG.
James Hodgins
Price
$8.150
Owned
Unknown
COMMENT
COMMENT
December 21, 2018
Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
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MEG Energy Corp (MEG-T)
December 21, 2018
Breaking News The unsolicited offer has been given an exemption by the ASC that avoids having to provide identical consideration to all securities holders. This means MEG will plan to waive its shareholder rights plan, but still plans to reject the offer the Husky. He feels this is an unusual decision by the ASC and MEG, but does not have an opinion on the issues.
Don Lato
Price
$7.430
Owned
_N/A
COMMENT
COMMENT
December 14, 2018
Do you like the MEG - HSE merger? He has been a supporter of tightening heavy differentials. He no longer holds MEG-T and regets it -- because it really is a high torque heavy oil company. The street does not think HSE-T will have to increase the bid to buy them. If you hold MEG-T you are essentially holding HSE-T now. He thinks there are better companies to invest in to maximize your exposure to heavy oil improving.
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MEG Energy Corp (MEG-T)
December 14, 2018
Do you like the MEG - HSE merger? He has been a supporter of tightening heavy differentials. He no longer holds MEG-T and regets it -- because it really is a high torque heavy oil company. The street does not think HSE-T will have to increase the bid to buy them. If you hold MEG-T you are essentially holding HSE-T now. He thinks there are better companies to invest in to maximize your exposure to heavy oil improving.
Eric Nuttall
Price
$8.160
Owned
No
HOLD
HOLD
December 12, 2018
When the Husky deal was announced he sold their position into this. The energy space is out of favour right now -- especially heavy oils. He would not step in, but would continue to hold if he had it.
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MEG Energy Corp (MEG-T)
December 12, 2018
When the Husky deal was announced he sold their position into this. The energy space is out of favour right now -- especially heavy oils. He would not step in, but would continue to hold if he had it.
COMMENT
COMMENT
November 28, 2018
Husky Energy is bidding for this at $11/share and trading at $8.01 today, so if the bid is approved, will a shareholder get that $11/share buying at $8.01? No, because it's not a cash bid, but a hostile one in shares at 0.57 shares of Husky. Meg is tracking Husky down. It's now trading at a 60-cent implied discount to the Husky bid. He expects this deal to go through. Meg is worth about $8.60/share in terms of Husky shares, then you'll end up owning shares of Husky, then you can decide what to do with them (hold or sell). So, you'd buy shares of Meg, short Husky and hope to pick up that 60 cents when the deal closes.
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MEG Energy Corp (MEG-T)
November 28, 2018
Husky Energy is bidding for this at $11/share and trading at $8.01 today, so if the bid is approved, will a shareholder get that $11/share buying at $8.01? No, because it's not a cash bid, but a hostile one in shares at 0.57 shares of Husky. Meg is tracking Husky down. It's now trading at a 60-cent implied discount to the Husky bid. He expects this deal to go through. Meg is worth about $8.60/share in terms of Husky shares, then you'll end up owning shares of Husky, then you can decide what to do with them (hold or sell). So, you'd buy shares of Meg, short Husky and hope to pick up that 60 cents when the deal closes.
Jason Mann
Price
$7.980
Owned
Unknown
COMMENT
COMMENT
November 16, 2018
He sees the deal going through in January. He thinks Husky still needs to increase their bid slightly. Currently MEG is trading at a 4% discount to the bid. It is better risk reward to buy their corporate bonds vs stock, and therefore some have been shorting the stock.
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MEG Energy Corp (MEG-T)
November 16, 2018
He sees the deal going through in January. He thinks Husky still needs to increase their bid slightly. Currently MEG is trading at a 4% discount to the bid. It is better risk reward to buy their corporate bonds vs stock, and therefore some have been shorting the stock.
Eric Nuttall
Price
$9.100
Owned
No
HOLD
HOLD
October 15, 2018

It is the subject of a hostile takeover challenge. He thinks you should get the opinion of more under-the-hood kinds of guys. The market is trading above the takeover bid which indicates there is a possible higher bid.

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MEG Energy Corp (MEG-T)
October 15, 2018

It is the subject of a hostile takeover challenge. He thinks you should get the opinion of more under-the-hood kinds of guys. The market is trading above the takeover bid which indicates there is a possible higher bid.

WAIT
WAIT
October 10, 2018

Trading slightly above the take-out price (Husky is doing a hostile takeover). Maybe Cenovus will step in. It's difficult to
buy the oil sands given the deep WCS discount. Wait.

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MEG Energy Corp (MEG-T)
October 10, 2018

Trading slightly above the take-out price (Husky is doing a hostile takeover). Maybe Cenovus will step in. It's difficult to
buy the oil sands given the deep WCS discount. Wait.

Christine Poole
Price
$10.720
Owned
Unknown
HOLD
HOLD
October 1, 2018

There is a hostile takeover attempt in play. He understands that this thing could trade a lot higher and there may be competing bids coming in. The market senses there are potentially other players that could come in. There is not much that technical analysis can do when M&A comes into play.

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MEG Energy Corp (MEG-T)
October 1, 2018

There is a hostile takeover attempt in play. He understands that this thing could trade a lot higher and there may be competing bids coming in. The market senses there are potentially other players that could come in. There is not much that technical analysis can do when M&A comes into play.

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